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German factories gloomier about production in coming months: Ifo - Metro US

German factories gloomier about production in coming months: Ifo

FILE PHOTO: Daimler's Mercedes-Benz presents new S-Class limousine

BERLIN (Reuters) – Production expectations for Europe’s largest economy have deteriorated for the coming months, Germany’s Ifo institute said on Monday, with consumer-orientated industries in particular feeling gloomier about their prospects.

Its index for production prospects dropped to 5.5 points in November from 16.3 points in October, with the indicator for carmakers tumbling to -1 point in November from 39 points in October.

“The consumer-oriented industries in particular are catching their breath, while the pharma industry is seeing a surge,” said Ifo’s Klaus Wohlrabe in a statement.

The German statistics office is due to publish industrial output data for October at 0700 GMT, with economists expecting to see a 1.6% rise.

(Reporting by Caroline Copley; Editing by Riham Alkousaa)

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